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TransGlobe Energy (TGA) Crumbles: Stock Falls by 6.6%

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TransGlobe Energy Corporation (TGA - Free Report) saw a big move last Friday, as the company’s shares fell by nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for TGA, as the stock is now down almost 21% since Dec 31.

On Jan 9, the company lowered its 2015 guidance for capital program owing to drop in oil prices.

This slump shouldn’t be too much of a surprise to investors, as the oil exploration and production company has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.

TGA currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Another better-ranked stocks in the same sector is Bellatrix Exploration Ltd. (BXE) with a Zacks Rank #2 (Buy).

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